The Truth About the Benefits of Project Management

The Truth About the Benefits of Project Management For a small to medium business, project management is one of the most vital and least understood components by both C-Level Executives, middle managers, and employees. It often remains one of the hardest goals to be implemented and carried out. Truthfully, project management is much more of an art, than a science. It is best understood by not only examining the numbers, but the qualitative aspects of it as well. In order to help an SMB manager understand the importance of good project management, this Infographic looks at some of the top tools which are used, some of the top myths debunked, as well what the true costs are to an SMB if a project is poorly managed. One of the top project management tools is that of the 'Gantt Chart'. It brings enormous value to an SMB, such as: A complex project with many intricate processes can be distilled down into The team can easily see visualize how project components are all connected and interrelated one view. with another. Cost effectively allocate resources, thus increasing your bottom line and ROI. The project management process becomes You can precisely schedule which team member will do transparent; which brings team members what job and hold them accountable. together and foster a creative environment. Here are some of the top SMB project management myths busted: The Virtual World Is Unproductive Myth Myth The 'PMP Certification' Is A Must In Order To Be A Successful Project Manager Fact: Fact: 37% of 41% of SMB 2/3 of CIOS 70% of SMB SMB's report higher worker productivity employees report huge time savings. Project Managers have no certification. view the PMP as not necessary 3 Project Management Is All Paperwork Myth To Get A Project Done, Frequent Meetings Are A Must Myth PROJECT Fact: An SMB Project Manager 77% of SMB employees feel that meetings are a pure waste of time. 90% of their spends time communicating with team members. 5 Myth If A Project Fails, It Is Fatal For The SMB Fact: The first PDA released in 1993 was a total failure, but many of its features lay the foundation today's iPhone. *But, poorly managed projects can have a costly impact to an SMB: 45% of IT 1 out of 6 IT projects projects are over budget, delivering will have a costs At an SMB, only exceeding 200%; and run behind schedule by 70%. almost 60% 20% of IT less value. investments are ever positive. One of the latest project management tools for the SMB is known as the 'Project Management Office', or the 'PMO': This defines the It is a successful tool to use because: Metrics and the top Key Performance Indicators for a Almost 70% of SMB 66% of SMB's projects without using a PMO fell way behind schedule; and way above budget. use the PMO particular project. methodology. PMO PMO Why does an SMB need a PMO? A PMO ensures effective project implementation. A PMO ensures that a project will be completed on time, within budget, and also provides critical QA tools. SMB PMO A PMO ensures that team Most important of all, a PMO ensures an effective and a clear line of communications members will be very familiar with the scope of the project, as well as its goals and objectives. with all project team members. SOURCES: http://www.business2community.com/infographics/project-management-essential-gantt-chart-infographic-0955580 https://www.wrike.com/blog/top-5-project-management-myths-busted-new-infographic/ http://3z9lfx2juv41 yeOf1x7blj2o0.wpengine.netdna-cdn.com/wp-content/uploads/2013/04/Project-Management-Training-Infographic1.png http://3z9lfx2juv41ye0f1x7blj2o0.wpengine.netdna-cdn.com/wp-content/uploads/2013/04/PMO_infographic-700.jpeg wcloudswave.com %24